Analysts Set Deere & Company (NYSE:DE) PT at $459.05

Shares of Deere & Company (NYSE:DEGet Rating) have received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $459.05.

Several research firms recently issued reports on DE. Robert W. Baird raised their target price on shares of Deere & Company from $406.00 to $470.00 in a research report on Wednesday, November 23rd. Evercore ISI boosted their target price on shares of Deere & Company from $463.00 to $513.00 in a research note on Monday, November 28th. Morgan Stanley boosted their price target on shares of Deere & Company from $424.00 to $522.00 and gave the company an “overweight” rating in a report on Friday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $415.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, November 25th. Finally, Wells Fargo & Company upped their price objective on shares of Deere & Company from $423.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, November 25th.

Deere & Company Stock Down 4.1 %

Shares of NYSE:DE opened at $408.60 on Friday. The stock has a market cap of $121.42 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.32 and a beta of 1.08. The firm has a fifty day moving average price of $430.48 and a 200 day moving average price of $380.36. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.98 and a quick ratio of 1.72. Deere & Company has a 1-year low of $283.81 and a 1-year high of $448.40.

Deere & Company (NYSE:DEGet Rating) last released its earnings results on Wednesday, November 23rd. The industrial products company reported $7.44 EPS for the quarter, topping the consensus estimate of $7.08 by $0.36. The company had revenue of $14.35 billion during the quarter, compared to analysts’ expectations of $13.64 billion. Deere & Company had a net margin of 13.56% and a return on equity of 37.52%. Sell-side analysts predict that Deere & Company will post 27.85 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Friday, December 30th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This is an increase from Deere & Company’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 1.17%. Deere & Company’s payout ratio is 20.57%.

Insider Activity at Deere & Company

In other news, insider Ryan D. Campbell sold 11,429 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $439.69, for a total transaction of $5,025,217.01. Following the completion of the sale, the insider now directly owns 13,147 shares in the company, valued at approximately $5,780,604.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Deere & Company news, insider Cory J. Reed sold 6,697 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $401.12, for a total value of $2,686,300.64. Following the sale, the insider now owns 30,946 shares in the company, valued at approximately $12,413,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Campbell sold 11,429 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $439.69, for a total value of $5,025,217.01. Following the completion of the sale, the insider now owns 13,147 shares in the company, valued at approximately $5,780,604.43. The disclosure for this sale can be found here. Insiders sold 32,339 shares of company stock worth $13,872,361 in the last ninety days. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DE. Northwest Investment Counselors LLC raised its stake in shares of Deere & Company by 151.5% in the second quarter. Northwest Investment Counselors LLC now owns 83 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Deere & Company in the first quarter worth $28,000. Heritage Financial Services LLC bought a new position in shares of Deere & Company in the second quarter worth $29,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Deere & Company by 411.8% in the third quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Finally, Close Asset Management Ltd boosted its stake in Deere & Company by 40.0% during the second quarter. Close Asset Management Ltd now owns 105 shares of the industrial products company’s stock valued at $31,000 after buying an additional 30 shares during the period. Institutional investors own 75.72% of the company’s stock.

About Deere & Company

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Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Further Reading

Analyst Recommendations for Deere & Company (NYSE:DE)

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